WEBVTT

1
00:00:00.000 --> 00:00:02.647
Watch this home's ownership move from one person

2
00:00:02.694 --> 00:00:03.483
to the next.

3
00:00:03.727 --> 00:00:06.745
Fee simple absolute is the broadest private ownership

4
00:00:06.815 --> 00:00:07.338
estate.

5
00:00:07.581 --> 00:00:10.170
It is potentially perpetual and inheritable.

6
00:00:10.379 --> 00:00:12.318
The current owner can transfer it, and an

7
00:00:12.399 --> 00:00:13.793
heir can inherit it.

8
00:00:14.118 --> 00:00:16.939
Notice that our timeline has no preset ending.

9
00:00:17.323 --> 00:00:19.447
Compare that with a life estate, which is

10
00:00:19.517 --> 00:00:21.758
measured by a specified person's life.

11
00:00:21.967 --> 00:00:24.532
And compare it with a defeasible fee, which

12
00:00:24.579 --> 00:00:27.075
may end when a specified condition occurs.

13
00:00:27.319 --> 00:00:30.407
The word absolute does not erase legal limits.

14
00:00:30.616 --> 00:00:34.169
Taxes, zoning, and valid liens can still apply.

15
00:00:34.610 --> 00:00:35.272
Quick check:

16
00:00:35.481 --> 00:00:38.093
does fee simple absolute mean an owner can

17
00:00:38.139 --> 00:00:39.172
ignore zoning?

18
00:00:41.498 --> 00:00:42.008
No.

19
00:00:42.333 --> 00:00:45.097
Broad ownership still operates within the law.